A significant driver of top-line growth: Equinor ASA (EQNR)

Equinor ASA (NYSE: EQNR) stock fell -1.44% on Friday to $34.11 against a previous-day closing price of $34.61. With 2.82 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.17 million shares. During the session, the Oil & Gas Integrated company that operates in wider Energy sector, reached to the highest price of $35.37 whereas the lowest price it dropped to was $34.11. The 52-week range on EQNR shows that it touched its highest point at $42.53 and its lowest point at $22.80 during that stretch. It currently has a 1-year price target of $42.17. With its current market cap of 111.57 billion, EQNR has annualized dividend of $1.31 while the current yield stands at 3.84%. Beta for the stock currently stands at 0.99.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EQNR was down-trending over the past week, with a drop of -6.98%, but this was down by -14.30% over a month. Three-month performance surged to 3.92% while six-month performance fell -4.41%. The stock gained 48.06% in the past year, while it has gained 31.03% so far this year. A look at the trailing 12-month EPS for EQNR yields 5.04 with Next year EPS estimates of 5.28. EPS is expected to grow by 5.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 37.30%.

Float and Shares Shorts:

At present, 3.19 billion EQNR shares are outstanding with a float of 909.93 million shares on hand for trading. On Aug 30, 2022, short shares totaled 8.65 million, which was 0.27% higher than short shares on Jul 28, 2022. In addition to Mr. Anders Opedal as the firm’s Pres & CEO, Ms. Ulrica Fearn serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 5.38% of EQNR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 1.49% of EQNR, in contrast to 0.34% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in EQNR with 0.31% of the stake, Arrowstreet Capital LP holds 10,254,751 shares worth 10,254,751. A second-largest stockholder of EQNR, EARNEST Partners LLC, holds 3,418,694 shares, controlling over 0.10% of the firm’s shares. American Century Investment Manag is the third largest shareholder in EQNR, holding 3,049,442 shares or 0.09% stake. With a 0.04% stake in EQNR, the American Century Equity Growth Fu is the largest stakeholder. A total of 1,433,036 shares are owned by the mutual fund manager. The American Century Disciplined Core, which owns about 0.04% of EQNR stock, is the second-largest Mutual Fund holder. It holds 1,245,194 shares valued at 48.3 million. VanEck Global Resources Fund holds 0.03% of the stake in EQNR, owning 975,500 shares worth 37.84 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, EQNR reported revenue of $36.39B and operating income of $17.68B. Over the past year, revenue came in at $127.67B while operating income stood at $59.27B. It generated $6.76B net income for the quarter, which came to $16.24B over the last twelve months. The EBITDA in the recently reported quarter was $20.15B and diluted EPS was $2.11. EBITDA for the full year was $70.22B.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EQNR since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EQNR analysts setting a high price target of $50.33 and a low target of $34.00, the average target price over the next 12 months is $42.17. Based on these targets, EQNR could surge 47.55% to reach the target high and fall by -0.32% to reach the target low. Reaching the average price target will result in a growth of 23.63% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EQNR will report FY 2022 earnings on 02/08/2023. Analysts have provided yearly estimates in a range of $8.85 being high and $6.12 being low. For EQNR, this leads to a yearly average estimate of $6.93. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Equinor ASA surprised analysts by $0.48 when it reported $2.11 EPS against a consensus estimate of $1.63. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is $2.23 and the low estimate is $0.43. The average estimate for the next quarter is thus $1.65.

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